吉利收购沃尔沃的案例分析.doc

　　摘要 　　我国企业的境外直接投资由于全球经济的一体化和我国国民收入水平的提高，正在迅速增长。 中国企业进行海外并购作为对境外企业进行投资的的重要形式， 其规模和数量也在不断地扩大。 特别是许多越发成熟壮大起来的企业， 在2008年全球经济危机的发生下开始反思， 不断将企业向国外拓展， 将企业长远发展的战略转向世界， 通过对国外企业进行海外并购， 来扩张国际市场。 而由于我国的资本市场也有一定的缺陷， 和资本运营在中国起步较晚， 中国企业跨国并购的成功率并不高， 可以说得上成功的并购仅有33%， 有67%的跨国并购并不成功。 我国企业进行跨国并购还存在很大的障碍， 面临的相关风险也会更多。 　　在此背景下， 本文以最为瞩目的中国民营汽车企业吉利成功收购沃尔沃为例来分析企业并购可能存在的风险并且对此提出相应的防控措施。 文章首先回顾了吉利收购沃尔沃的背景、 动因及交易过程和预期收益， 然后重点分析吉利并购沃尔沃前后可能面临的各种风险， 最后提出吉利应对风险的响应的防控措施， 以使吉利企业在之后的运营过程中健康快速的发展， 实现并购的目的。 　　关键词： 吉利； 并购； 风险； 控制 Abstract 　　Foreign direct investment of Chinese enterprises due to the global economic integration and enhance the level of national income , is growing rapidly. Chineseenterprises overseas mergers and acquisitions as an important form of foreign enterprisesto invest in , the size and number are constantly expanding. In particular, many moremature grown up companies , in the event of the 2008 global economic crisis began toreflect , to keep the companies to expand abroad , the strategic long-term development ofsteering the world through foreign enterprises overseas acquisitions to expand theinternational market. And because Chinas capital market also has some flaws , and capitaloperations in China started late , the success rate of cross-border mergers and acquisitionsof Chinese enterprises is not high , you can just put it on the successful acquisition of 33% ,67% and cross-border mergers and acquisitions unsuccessful . Cross-border mergers and acquisitions of companies there is a big obstacle will be more relevant risks faced . 　　In this context , this paper, the most eye-catching Chinese private car company Geelyacquisition of Volvo as an example to analyze possible risks of mergers and acquisitions ,and this made the appropriate control measures. The article first reviews the Volvobackground , motivation and the transaction process and the expected benefits , and thenfocus on the analysis before and after the acquisition of Volvo Geely may face a variety ofrisks , finally